Michał Kalecki: An Intellectual Biography

Volume II: By Intellect Alone 1939–1970

  • Jan Toporowski

Table of contents

  1. Front Matter
    Pages i-xiv
  2. Jan Toporowski
    Pages 1-20
  3. Jan Toporowski
    Pages 21-32
  4. Jan Toporowski
    Pages 33-47
  5. Jan Toporowski
    Pages 49-61
  6. Jan Toporowski
    Pages 63-85
  7. Jan Toporowski
    Pages 87-107
  8. Jan Toporowski
    Pages 109-126
  9. Jan Toporowski
    Pages 127-144
  10. Jan Toporowski
    Pages 145-163
  11. Jan Toporowski
    Pages 165-182
  12. Jan Toporowski
    Pages 183-197
  13. Jan Toporowski
    Pages 199-221
  14. Jan Toporowski
    Pages 223-243
  15. Jan Toporowski
    Pages 245-261
  16. Back Matter
    Pages 263-289

About this book


This volume of intellectual biography records the work of Michał Kalecki’s maturity: his work on monetary economics and the theory of profits; his work on the problems of socialism and developing countries; and the extension of his theory of capitalism to define his work in relation to Keynes and previous political economic principles. Kalecki had, by 1939, laid out the essential elements of his theory of the business cycle in capitalism. This book begins at Oxford where, at the Institute of Statistics, he worked on the economic planning and financing of World War Two, as well as extending and detailing the particulars of his theory and examining the conditions for full employment in the post-War international monetary and financial system. Kalecki would then work for the United Nations on full employment, inflation, and developing countries. He departed from the United Nations in 1955, and returned to Poland to extend two new directions of his ideas – on the economics of developing countries and his theory of growth in the socialist economy, alongside further work on business cycles.

This book is essential reading for all those who want to understand Kalecki’s lasting contribution to economic theory and policy.


Michał Kalecki History of Economic Thought John Maynard Keynes Polish economics Migrant labour The United Nations Oxford economics The Second World War Theory of the business cycle in capitalism Marshallian economics The Institute of Statistics full employment Inflation Monetary theory Political economy of full employment Defence economics

Authors and affiliations

  • Jan Toporowski
    • 1
  1. 1.Economics DepartmentSOAS University of LondonLondonUnited Kingdom

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